Tuesday, May 4, 2010

Charles Rowley on the Financial Crisis

Geithner has a fascinating vita. B.A. from Dartmouth in government and east Asian studies. M.A. in international economics and East Asian studies from Johns Hopkins. Worked for Kissinger's lobbying firm. Then to Treasury where Larry Summers became his mentor. Some say he was a protege of Robert Rubin. Off to the Council of Foreign Relations. (It's enough to turn you into a Bircher.) Then to the IMF for a time. Finally President of the New York Federal Reserve. And now Secretary of the Treasury.

It seems to me that his on-the-job training was focused on bailing out foreign countries. Of course, that means bailing out lenders to foreign countries. Maybe that is what the Board of Directors of the New York Fed looks for in a President?

2 comments:

One thing that I can tell you about Tim Geithner... and this comes courtesy of Australia's ex-PM Paul Keating (a man that I do not like but that is another story). Geither f'd up the Japanese economy when it was struggling with a financial crisis. Geithner was the advisor from the IMF and his prescriptions actually made matters worse... such that Japan has had a long, slow, painful recovery.

As much as I dislike Mr. Keating, I will accept his take on that situation, because Keating was astute for someone without the educational qualifications.....

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